As the title says it all, curious to hear from fellow investors,
Lets say you had a budget of $1M to invest in property. It has to be residential property as this is coming from a 1031 exchange.
What would you pick taking into consideration a good balance of rental income and long-term appreciation
2BR Condo in SF
2BR SFH in Berkeley/Oakland
I would add a 3rd option.
2BR house in SF but in a more up and coming neighborhood like near balboa park eg outer mission/ingleside
For $1m I will sell you my 8 unit building in South Lake Tahoe with gross rent of $110k/ year. That is 2.5 times return compared to what you get in the BA… Plus no rent control zero vacancies and 10% a year appreciation
Well, I had to look up what you saw that sold for 1M and less and frankly 2/3 are small homes needing a lot of work. I can argue buying in the Sunset instead. There is only one that seemed decent 3/2 but again no pics of the inside. Ingleside is still transitioning in my opinion so not that desirable. Maybe in the Excelsior you might find a fixer worth buying to fix up nice for yourself to live in.
Not really, it’s about the same to me living wise. If any, my current location has a better environment and commute overall compared to Central or Outer Sunset. I do prefer Richmond and Inner Sunset though if I had the money
Come on, you are talking Daly City if I remember right? Please, weather is even worse than Sunset if that is possible. We pretty much live in a near perfect information world as it is. If your area were so good, homes would be way more expensive than they are now (since in theory, it would be underpriced). The fact is, the reason why neighborhoods like the Sunset are so hot and selling so well is simply people do find the value of owning there and are willing to overbid. It is not rocket science.